XIAOMI(HK:01810) Zhong Guo Jing Ji Wang·2025-07-10 07:05Core Viewpoint - The launch of Xiaomi's YU7 has sparked significant consumer interest, achieving 200,000 pre-orders in just three minutes, indicating a shift towards online car purchasing models [1][5][6] Group 1: Sales and Delivery Challenges - Xiaomi aims to deliver 350,000 YU7 units this year, with over 150,000 already delivered by mid-year, leaving a gap of 200,000 units to be fulfilled in the second half [2][5] - The estimated delivery time for the standard YU7 is currently 59-62 weeks, which may improve with the ramp-up of production capacity [2][5] - The inability to cancel orders after a 7-day grace period and the requirement for detailed personal information at the time of order have raised concerns among consumers [2][5] Group 2: Market Dynamics and Competition - The presence of scalpers reselling YU7 orders on platforms like Xianyu highlights the high demand and potential market inefficiencies [3][5] - Comparatively, traditional car manufacturers like Volvo rely on a network of over 200 dealerships, allowing for a more transparent and efficient sales process [8] - The "three-minute 200,000 orders" phenomenon is partly attributed to Xiaomi's unique online-only purchasing model, which differs from the traditional car sales approach [6][9] Group 3: Consumer Behavior and Expectations - Consumers generally expect to wait no longer than 1-2 months for vehicle delivery, and extended wait times can lead to order cancellations [9][10] - Reports indicate that over 70,000 orders for the YU7 have been canceled, primarily due to long delivery times and impulsive purchasing behavior [9][10] - The automotive industry has a history of "hunger marketing," where high demand leads to increased prices and delivery challenges, which could affect consumer loyalty [10]